Bitcoin is trapped in a period of price consolidation as the number one cryptocurrency remains trapped between the $34,000 to $35,000 level. The four-hour time frame shows that a major trendline breakout is valid while the BTCUSD pair holds above the $34,400 level. Continued gains above the $34,400 level is likely to prompt a technical test towards the $36,000 resistance zone.
The BTCUSD pair is only bullish while trading above the $34,400 level, key resistance is found at the $35,000 and the $36,000 levels.
If the BTCUSD pair trades below the $34,400 level, sellers may test the $33,800 and $33,000 levels.
